Bitcoin Trades Sideways as Major Altcoins Enjoy Sizeable Gains

Bitcoin prices are staying largely flat, but many major altcoins have enjoyed healthy gains over the past 24 hours.

BTC struggles to recover from a recent, sudden $400 drop, as altcoins enjoy sizeable gains — some rising by as much as 9%

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Market Update

Sunday, Aug. 11 — It is a largely green picture across the top-20 cryptocurrencies. While Bitcoin (BTC) has remained flat overall, altcoins have enjoyed some sizeable gains, with some rising over 9% on the day

Bitcoin’s price was down a fraction at press time, losing 0.61% to trade at $11,352, according to Coin360­­. BTC’s value has tumbled by more than $500 in the past 24 hours — struggling to recover from a sudden $400 drop in the space of just five minutes on Saturday. Prices have remained relatively steady since then. Looking back at the past seven days, BTC is up by over 5%.

Ether (ETH) enjoyed a more substantial uptick on Sunday. According to Coin360, prices have risen by almost 3% in the past day to reach $212.29 at press time. ETH has a current market cap of $22.5 billion, compared with $21.9 billion at the time of yesterday’s report. That said, the dominant altcoin is still down 3.19% on what it was a week ago.